Markets Open Higher On Strong Global Cues

Posted By:

Benchmark indices surged in early trade, as Asian markets were higher and the Japanese Nikkei recovered early losses and was trading with gains.

Markets Open Higher On Strong Global Cues
Welspun India: Quotes, News
BSE 56.40BSE Quote0.05 (0.09%)
NSE 56.60NSE Quote0.1 (0.18%)
Idea Cellular: Quotes, News
BSE 77.55BSE Quote1.15 (1.48%)
NSE 77.50NSE Quote1.2 (1.55%)
Most of the markets across Asia were trading higher with the Korean Kospi up 0.25 per cent, while the Hong Kong's Hang Sang was trading with gains of 0.5 per cent.

The rally was largely on hopes that there might not be any interest rate cuts in the US, by the US Federal Reserve in Sept 2016. However, global markets are expected to keenly watch the US Non Farm Payrolls data later this week, which if remains robust, could push the US Fed to hike rates earlier.

The Shanghai Composite was virtually flat in trade.

Leading the set of early gainers were PSU banking stocks like Bank of Baroda, which was up 1.5 per cent in early trade. The other gainer was BPCL, which moved higher, following a sharp drop in the prices of crude oil. A drop in crude 0il, benefits oil refineries like BPCL, HPCL and Indian Oil.

Zee TV and Idea were the only early losers from the Nifty space. Shares in Welspun India, which lost heavy ground last week, continued to drop lower. The stock hit a new 52-week low on the NSE of Rs 47.50.

The company's shares have been constantly falling after Target Corporation of the US, decided to severe ties with the company.

Meanwhile, the rupee was trading at 67.10 to the US dollar.

Read more about: sensex, nifty
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?